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Still Coiling

JGBS

A very tight morning session for futures, with the contract hitting the bell 1 tick above yesterday's settlement levels, sticking to the confines of the overnight range. Cash yields are marginally mixed across the curve.

  • Local headline flow has been light, with comments from Economy Minister Nishimura confirming the suspension of the Go To travel campaign over the new year period and offering little new re: broader fiscal matters.
  • Local data had no impact on the space.
  • The BoJ Rinban ops saw the Bank leave the size of its 1-10 Year JGB purchases unchanged, with offer/cover ratios as follows:
  • 1-3 Year: 2.47x (prev. 2.33x)
  • 3-5 Year: 3.29x (prev. 1.67x)
  • 5-10 Year: 3.26x (prev. 2.03x)
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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